21 Jay St - Apartments FOR SALE


Lakewood, NJ 08701
$1,800,000 USD
917-902-9951
21 Jay St, Lakewood, NJ for Sale
$1,800,000 USD
Apartments - FOR SALE
1/12
null | 2.5% Cap Rate

21 Jay St
Lakewood, NJ 08701


OVERVIEW

1-21 Jay St is a 10 unit development deeded as affordable housing for low to medium income tenants. There are five 2 bedroom / 1.5 bath units and five 3 bedroom / 2.5 units. Potential buyers must be approved by the DCA based on experience owning and managing affordable housing units as well as a background check for real estate related judgements. 9 units occupied paying from $550-1275 per month, most have not had regular annual increases since moving in. One vacant unit. Current cap rate is approximately 2.5%

FOR SALE DETAILS

PRICE

$1,800,000 USD

PRICE/SF

$40 USD /SF

# OF UNITS

10

PRICE/UNIT

$180,000

CAP RATE

2.5%

% LEASED

90%

SALE TYPE

Investment

BUILDING DETAILS

PROPERTY NAME

1-21 Jay St.

PROPERTY TYPE

Multi-Family

PROPERTY SUBTYPE

Apartments

ADD'L SUBTYPES

Apartments

TOTAL BUILDING SIZE

-

STORIES

2

YEAR BUILT

2006

PARKING SPACES

13

LAND DETAILS

LAND ACRES

1.03 AC

LAND SF

44,867 SF

ZONING

R75

APN/PARCEL ID

15-00768-0000-00019

ASK ABOUT THIS PROPERTY

Brett ThompsonCorcoran Infinity Properties, CresskillMore Info
917-902-9951

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Brett ThompsonCorcoran Infinity Properties, CresskillMore Info
917-902-9951

By clicking the button, you agree to Showcase's Terms of Use and Privacy Notice.